US Stock Market Overview – Santa Claus Rally Starts at Record Highs

US stocks closed at their highest peak on Monday after a long holiday weekend. This follows the news that President Trump has signed the $ 900 billion stimulus bill that now paves the way for the government to make direct payments to U.S. households. Late the day when the House of Representatives voted to increase the second round of direct payments to $ 2000, compared to $ 600. All three major averages closed at record highs. The Russell 2000 declined. Most sectors in the S&P 500 index were higher, led by a gain in the communications sector. The energy sector has shown the trend. Stocks usually rise during the period between Christmas and New Year. This is known as the Santa Claus Rally. Historically, January has been a positive month for equities. Over the past ten years, the S&P 500 index has risen 60% of the time for an average gain of 1.2%. The dollar rose higher on Monday and gold prices were almost unchanged.

The House has voted to increase the second round of federal direct payments to $ 2,000, as Democrats will accept President Donald Trump’s calls to put more money in the pockets of Americans. from $ 600.

The house dominates defense veto

The House voted to replace President Donald Trump’s veto on an annual defense spending bill, and to take the final steps to challenge the Republican president in the hands of the GOP – led by the Senate. The Senate will vote Tuesday. The bill, known as the 2021 National Defense Authorization Act, passed the House on Dec. 8 with the support of more than three-quarters of the chamber.